Proprietorship Registration in Chanho can be curtains by either making a Trade License or making a Shop and Establishment License. Both of these licenses are issued by local department based upon pre confirmation of documents. We have a teal of local staffs and professionals are who are clever in dealing past local departments and have concerns in all department which makes it simple for us to apply for and purchase any local license. In Chanho we accept a minimum of 7 daylight time to concern Trade License or Shop and Establishment License.
Shop and Establishment License issued is for lifetime validity till it is suspended or surrendered, while Trade License is subject to regular renewal and verification.
Any person desirous of starting a business upon its own can Begin with Proprietorship Concern if the investment is little or he wants to fulfil minimum compliance. This type of business is a hassle clear business without any additional submission related liability. One can start business lonely by submitting his KYC documents. If an voyager is looking to study to evaluate his area of affect then this is the type of situation he needs to start from.
BENEFITS OF PROPRIETORSHIP FIRMS:
- Single Owner Concern, no involvement of external party
- Minimum Registration Cost
- No Registration related Compliance
- Easy and faster registration
- Can be closed easily
DRAWBACKS OF PROPRIETORSHIP FIRMS:
- Not suited for high turnover business
- Limited Local recognition
- Switching into extra business form shall gain to exhaustion of Brand Value
- Loss is borne isolated by the Owner and responsibility may extend to its personal property in dogfight of loss